Central Rand Gold Limited Procurement of Concentrator Circuit (9156X)
February 27 2017 - 5:30AM
UK Regulatory
TIDMCRND
RNS Number : 9156X
Central Rand Gold Limited
27 February 2017
Central Rand Gold Limited
(Incorporated as a company with limited liability
under the laws of Guernsey,
Company Number 45108)
(Incorporated as an external company with limited
liability under the laws of South Africa,
Registration number 2007/019223/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
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Procurement of Concentrator Circuit
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Further to the Company's announcement dated 10 January 2017, the
Company is pleased to announce that it has placed the order, on
binding contractual terms, for the procurement of the Concentrator
Circuit. The Concentrator Circuit consists of four Centrifugal
Concentrators, two scrubbers, one high-speed agitator, one
de-watering screen, hoppers, conveyor belts, sand/water pumps, one
master control panel, HDPE pipelines, solenoid/butterfly valves,
cables, steel structure and other ancillary equipment necessary to
process material prior to Thickener Underflow processing in the
metallurgical plant.
As announced on 6 October 2016, the Company has executed an
agreement to acquire Mine Waste Dumps that contain 2.3 million
tonnes of gold bearing materials, with an average in-situ grade of
0.7g/t. As a result of the successful conclusion of the
concentrator test work conducted in 2016, the Company had resolved
to procure a Concentrator Circuit to upgrade the gold grade of the
Mine Waste Dumps materials before further metallurgical processing.
The metallurgical test work also indicated that the gold recovery
was higher for the concentrated materials. This step places the
Company closer to achieving that objective.
The Concentrator Circuit's nameplate processing capacity is
60,000 tonnes per month for sand and slimes materials. The plant
includes a water recycling system to minimise the usage of clean
water. It is anticipated that the Concentrator Circuit will arrive
and be assembled in the second quarter of 2017, and commissioning
to take place during the third quarter of 2017.
The Executive team of the Company has been working with the
supplier on optimising the design of the Concentrator Circuit over
the past six months, and has taken into consideration the recent
issues with power and water consumption, processing capacity of
each item of equipment, ease of installation and commission, and
environmental protection. The Company has also ordered additional
spare parts for all Concentrator Circuit equipment in order to
minimise production downtime. The Board would like to thank Lola
Trollip, William Zhuang, John Ramabaleha and the Central Rand Gold
Metallurgical and Engineering team for their contribution on the
design of the Concentrator Circuit.
Statement from the Chairman
"This is a crucial step towards enabling the Company to better
process the available tailings, to maximise the efficiency of the
production process and to maximise also the value of the
throughput. The team has worked very hard to come up with the
agreed specifications and to procure the right equipment for the
Concentrator Circuit and this is now underway. I hope to continue
to update shareholders with progress about this aspect of the
operations following commissioning."
For further information, please contact:
Central Rand Gold +27 (0) 87 310 4400
Lola Trollip / William Zhuang
ZAI Corporate Finance Limited - Nominated Adviser +44 (0) 20
7060 2220
John Treacy / Jamie Spotswood
Brandon Hill Capital Limited - Broker +44 (0) 20 3463 5000
Jonathan Evans / Wei Jiao
Merchantec Capital - JSE Sponsor +27 (0) 11 325 6363
Monique Martinez / Marcel Goncalves
Johannesburg
27 February 2017
The information communicated in this announcement is inside
information for the purposes of Article 7 of Market Abuse
Regulation 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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